Exhibit 10.11
XXXX'X, INC.
00000 Xxxxx Xxxxxx Xxxxxx, Xxx Xxxxxxx, Xxxxxxxxxx 00000
Ph: (000) 000-0000 o Fax: (000) 000-0000
XXX.XXXXXXXXXXXXXXX.XXX
CO-SIGN AGREEMENT
Los Angeles, California
August 15, 2004
FOR VALUE RECEIVED, Xxxx'x, Inc. (the "Company") promises to pay to Xxxxxx
X. Xxxx Xx., (the "Co-signer"), an ------------------ effective annual interest
of 5% on the amount borrowed from Xxxxxxx Xxxxx by the Company secured by stock
pledged by co-signer. Xxxxxxxxxxx X. Xxxx the CEO of Xxxx'x Inc., will pledge
his 3,200,000 shares of common stock in Xxxx'x, Inc. as collateral to the
co-signer in the event of default of this loan.
1. Duration. This agreement will be for one year to the day following
issue of this Note.
2. Default. This agreement will be considered in default if the Company
defaults on their loan with Xxxxxxx Xxxxx or in the case of after the duration
of this agreement the loan is not paid off releasing the collateral pledged by
the co-signer. In case of a default the Company has the opportunity to correct
the default within a reasonable time period including potentially selling the
company to pay off the note to release the co-signers pledged stock collateral.
(a) If this co-sign agreement is defaulted on the Company agrees to pay
the costs of the collection, including reasonable attorneys' fees.
(b) This agreement shall be construed and enforced in accordance with, and
governed by, the laws of the State of California.
Xxxx'x, Inc.
By: /s/ Xxxxxxxxxxx X. Xxxx
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Xxxxxxxxxxx X. Xxxx
CEO, Founder
Co-signer: /s/ Xxxxxx X. Xxxx Xx.
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Xxxxxx X. Xxxx Xx.
